In the fourth legislature of Congress, Petro spoke about the minimum wage and assured that “will take advantage” of his last year

During the installation of the last legislative period of his government, President Gustavo Petro referred to the behavior of the minimum wage in Colombia and its impact on the economy

News Colombia.

During the installation of the new legislative period, President Gustavo Petro spoke of the minimum salary but this time with the idea of achieving an increase before the end of 2025 ends

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In his speech, he stressed that the increases decreed during his mandate did not negatively affected inflation, as some sectors warned at the time.

According to the president, the increases in the minimum wage in Colombia – superior to the inflation index – have contributed to strengthening the purchasing power of households and did not represent an obstacle to the reduction of the consumer price index (CPI).

A new adjustment for December

Petro anticipated that in December he will propose a new “important” adjustment to the minimum wage by 2025. “I will take advantage of this increase in responding to the needs of the workers,” said the president, who reiterated that the increases must continue to be above the inflationary index.

This position contrasts with what is expressed by the Bank of the Republic, which has warned that excessive salary increases can press some key prices of the economy.

Recent increases to the minimum wage

During the last two years, the Government has decreed significant increases to the current legal monthly minimum wage (SMMLV):

• In 2023the minimum wage was set in $ 1,160,000with an increase in 16 %that is, 2.9 percentage points above inflation.
• In 2024the minimum wage increased to $ 1,300,000with a rise from 12.07 %overcoming inflation by 2.78 points.

The values of transport aid to also adjusted to $ 140,606 In 2023 already $ 162,000 In 2024.

Only one minority wins the minimum wage

According to official figures, only 16.5 % of workers in Colombia, that is, around 3.7 million peopleThey receive the minimum wage. Despite this, the Government considers that strengthening this basic income drives internal consumption, key to economic growth.

Petro called on entrepreneurs to see an essential lever in consumptionBy dynamizing the economy, and to support a salary policy that allows improving the living conditions of Colombian workers.

https://www.youtube.com/watch?v=hv44gbbfuxi